Financial Performance Highlights
Revenue from Operations: ₹461.94 lakhs (FY25: ₹410.37 lakhs) - increase of 12.57%
Other Income: ₹309.76 lakhs (FY25: ₹334.38 lakhs)
Total Income: ₹771.70 lakhs (FY25: ₹744.75 lakhs) - increase of 3.62%
Profit Before Tax: ₹714.25 lakhs (FY25: ₹693.90 lakhs) - increase of 2.93%
Tax Expense: ₹148.60 lakhs (Current: ₹106.15 lakhs, Deferred: ₹42.45 lakhs)
Profit After Tax: ₹565.65 lakhs (FY25: ₹529.87 lakhs) - increase of 6.75%
Earnings Per Share (Basic & Diluted): ₹14.93 (FY25: ₹13.99)
Dividend Declaration
Final Dividend: Recommended ₹3.00 per equity share of ₹10 each for FY26 (same as FY25)
Total Dividend Outflow: ₹113.63 lakhs
Record Date: 17th July 2026
Payment Period: 27th August 2026 to 2nd September 2026
Taxation: Dividend income taxable in hands of members with TDS applicable at prescribed rates
Annual General Meeting Details
44th AGM Date: 26th August 2026
Time: 11:00 AM IST
Mode: Video Conferencing/Other Audio Visual Means
Agenda Items:
- Adoption of financial statements for FY26
- Declaration of final dividend
- Re-appointment of Mr. Arif Musa Patel (DIN: 10051869) who retires by rotation
- Appointment of statutory auditors and fixing their remuneration
Shareholding Pattern
Total Equity Shares: 3,787,515 of ₹10 each
Promoter Holding: ITC Hotels Limited - 45.78% (1,733,907 shares)
Public Holding: 54.22%
Dematerialization Status: 96.68% held in demat form (NSDL: 77.19%, CDSL: 19.49%)
Key Operational Highlights
Hotel Operations: Welcomhotel Vadodara operated by ITC Hotels Limited under Operating License Agreement
License Fees Received: ₹545.09 lakhs from ITC Hotels Limited
Employee Strength: 145 employees (including those on deputation from ITC Hotels Limited)
Legal and Regulatory Matters
Land Lease Issue: Company's leasehold land at Vadodara expired in 2014 (8,200 sq mtrs) and 2018 (2,548 sq mtrs). Writ petition filed in Gujarat High Court in April 2013 seeking conversion to freehold or lease extension. High Court order dated 24th December 2014 restrains state government from disturbing company's possession. Matter pending.
Corporate Governance
Board Composition: 6 directors (3 Non-Executive Independent, 3 Non-Executive Non-Independent)
Board Meetings: 5 meetings held during FY26
Key Committees: Audit Committee, Nominations and Remuneration Committee, Stakeholders Relationship Committee
Directors' Sitting Fees: ₹25,000 per board meeting, ₹15,000 per committee meeting
Auditor Appointments
Statutory Auditors: K C Mehta & Co LLP (Firm Reg No: 106237W/W100829) recommended for remuneration of ₹104,000 plus GST for FY26-27 audit
Secretarial Auditors: Mehta & Mehta, Company Secretaries
Internal Auditors: Shah & Talati, Chartered Accountants
Related Party Transactions
All transactions with related parties (ITC Limited and ITC Hotels Limited) conducted at arm's length and in ordinary course of business. Key transactions include:
- License fees received: ₹545.09 lakhs
- Reimbursement of salary and other expenses: ₹625.02 lakhs
Capital Structure
Authorized Capital: ₹1,000 lakhs (1,000,000 equity shares of ₹10 each)
Issued, Subscribed & Paid-up Capital: ₹378.75 lakhs (3,787,515 equity shares of ₹10 each)
No changes in share capital during FY26
Key Financial Ratios
Current Ratio: 47.73 (FY25: 64.08) - decrease due to higher current liabilities
Return on Net Worth: 11.15% (FY25: 11.44%) - slight decrease due to lower other income contribution
Net Profit Ratio: 73.30% (FY25: 71.15%)
Other Significant Disclosures
Unclaimed Dividend: Dividend for FY2018-19 and related shares to be transferred to IEPF on 12th October 2026
Investor Complaints: 1 complaint received and resolved during FY26, none pending at year-end
CSR: Not applicable as company doesn't meet criteria under Section 135(1) of Companies Act 2013
Forward-looking Statements
Report contains forward-looking statements involving risks and uncertainties. Actual results may differ materially from those expressed or implied.